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government-trade

government-trade

March 10, 1994

Aiken Staying in U.S. at Request of Sanofi

NEW YORK -- Lawrence J. Aiken, president and chief executive officer of Sanofi Beaute Inc., said Wednesday that he has canceled plans to relocate to Paris at the request of executives at his French parent company, Elf-Sanofi.<BR><BR>He will remain...

NEW YORK — Lawrence J. Aiken, president and chief executive officer of Sanofi Beaute Inc., said Wednesday that he has canceled plans to relocate to Paris at the request of executives at his French parent company, Elf-Sanofi.

He will remain headquartered here while overseeing the American subsidiary and pursuing his additional duties as worldwide president of Sanofi’s American brands, which include Oscar de la Renta and Perry Ellis.

Aiken had planned to move to the Paris headquarters of Sanofi Beaute SA May 1. Sanofi recently hired Donald G. Loftus, former president of Vepro USA Ltd., as executive vice president to handle the daily operations of the U.S. subsidiary after Aiken left for Paris.

That all abruptly changed this week following the departure Friday of Claude Saujet as chairman and ceo of the Paris-based Sanofi Beaute. Aiken had reported to Saujet.

The Elf-Sanofi board named Jean-Paul Leon, director of corporate strategy, as an interim replacement for Saujet until a new chief is found.

Aiken has been in Paris this week consulting with senior Elf-Sanofi officials. He issued a statement Wednesday saying that he has been asked to remain in New York “as a result of the recently announced management changes.” Loftus also will also remain in his position.

Due to the scope of his duties and the travel involved in developing the American brands overseas, Aiken added, “It is essential that Donald Loftus be [in New York] to manage the day-to-day activities of Sanofi Beaute Inc.”